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Was looking into picking up Book I & II, and while browsing the net for the latest on the still missing Book III & IV I stumbled over an update from yesterday:
https://www.kickstarter.com/projects/herald/herald-an-interactive-period-drama/posts/3229382

"We have received multiple requests for an update regarding the development and release of Herald: Book III and IV. Like most people, the pandemic has hit us hard, and in recent years we also had to reduce our team-size somewhat, so we don't have a marketing department anymore. Because of that we decided to focus mostly on finishing Herald's final books instead of writing updates about them.

But today we can say that we're really happy to announce that Book III and IV are going into their final stages of development! We recently announced already on our Twitter and Facebook pages that the game is officially in closed-beta. This means that all the content is in there, but we're still ironing out many kinks, all while doing other projects to be able to financially support ourselves.

We want to assure you that the wait is almost over, all the content is playable, it just needs a lot of polish. When we're done polishing the experience, the game will go to the publisher who will port it to consoles. This process also takes some time, so please bear with us a little longer.

The game is definitely coming, we just need a bit more time to make sure it is also worth the long wait. We do not want to sell you a buggy mess, that would be a waste of your and our time. We want to do this the right way, but with a studio of our size, it just isn't a great idea to rush it now we're so close to the finish line.

For all backers of Book III and IV especially: Rest assured that once the game releases, everyone's rewards for Book III and IV and the above tiers will also be shipped in the weeks after the release. Currently none of the awards are slated to be skipped or altered.

Stay tuned for more, because we're planning another big news update on the game this summer."
I just played Books 1 and 2 through and was wondering what is going on with the last two and found this little teaser trailer for them:

https://www.youtube.com/watch?v=9LAXei_FjVA

So, it seems like this game will have its conclusion.